New technology, skills needed to raise productivity in construction: DPM Tharman

Deputy Prime Minister and Minister for Finance Tharman Shanmugaratnam speaking at the fourth FutureChina Global Forum gala dinner on July 8 2013. DPM Tharman called on the construction industry to invest in new technology and skills to raise producti
Deputy Prime Minister and Minister for Finance Tharman Shanmugaratnam speaking at the fourth FutureChina Global Forum gala dinner on July 8 2013. DPM Tharman called on the construction industry to invest in new technology and skills to raise productivity in the sector. -- FILE PHOTO: ZAOBAO 

Invest in new technology and new skills, and cooperate more seamlessly across the entire construction value chain to raise productivity by 2 to 3 per cent a year in the construction sector.

This was the message Deputy Prime Minister Tharman Shanmugaratnam had for the construction industry on Wednesday at the opening of Singapore's third Construction Productivity Week.

He gave examples on how firms can be more productive.

For example, volumetric construction involves manufacturing whole apartment-sized units complete with internal fixtures in the factory, then installing them on-site. This means more can be built in less time using fewer workers. And if firms need help, they can seek co-funding for new technology from the Construction Productivity and Capability Fund.